Make sure you get pre approved with at least two lenders since they will validate your credit worthiness and if those two lenders are willing to lend to you, you can reason that the seller should too. Make sure to include the letters of pre approval and your credit report (with socials blacked out)
Many agents shy away from this type of deal simply because they are not familiar with how to structure this type of financing. These type of deals might require a lot of counter offering back and forth to make it happen. Key thing is hang in there, and even if the seller doesn't want to counter, you can always re counter to engage them and get the deal done. One more thing there reallly are not many homes in Orange County under $300k, you can get a condo for $300k. A great site to see active homes for sale with a live feed to the board of realtors multiple listing service is http://clickhomesnow.com If I can help be sure to contact me.
If you're already working with a Realtor, your agent should be able to assist you with this. If you're not working with one agent exclusively, please contact me, as I would be happy to help you out (on an exclusive basis only). Thanks.
James Melton, Realtor & Mortgage Broker, CA DRE Broker #01222353, NMLS #300133
President, Victory Mortgage & Real Estate Home Loans & Sales Since 1979, NMLS #366399
2901 W. PCH, Suite 200, Newport Beach, CA 92663
cell(714)318-4664, phone(949)939-9676 or (714)374-0022, fax(714)844-9094
What is your time-line? It could take quite a while to find a home that will fit your needs and criteria. I'm located in HB so we could get together to discuss your wants and needs.
Searching 250 cities in Los Angeles and Orange Counties, I found 30 listings that are up to $300,000 and offer some form of owner financing or lease-option. So, you can see, there are some possibilities out there.
Give me a call (714-552-2335) or email me (Tim@TimKunze.com) and let's get together.
CA DOC 85656